St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-03-28
REAL ESTATE GOSSIP.

Real estate men generally report rather
quiet week. and not few of them attrib-
ute the lack of activity to the boom of tine
lake towns All, however, unite in saying
that Duluth. Superior and Ashland will find
their prosperity short-lived. ''Why," said
a leading dealer, lit is just exactly like
buying wheat on rising market. the bulls
have n0Gntention of holding their purchases;
as soon as prices rise few notcheS they
will sellhgain. If the lake buyers were
building it might be serious matter for us
hele, but they are not turning shovelful
OF earth or laying brick. 1t cannot hurt
u.s." 1.-The next town to be doomed is
Sault Ste. Marie" said another man, land
it is going to be almost as lively as Du-
luth's. When the sharks have eaten all the
Sou fishes hey will, to change the meta
phor and adopt Maj. Bassetts expressive
dictiCn, 'sWoOp down like cloud Of grass
hnnpprs on little station twelve miles
This side of 500, where four railroads cross,
and build great city there ion paper)."
~
1.-The unusual activity in real estate this
spring is not at all difficult of solution"
said Nicollet avenue sage; you may de-
pend pom it that the reason is simply to be
found in the fearfully unsettled condition
of manufacturing business in the East.
Eastern concerns in which they are abso-
lutely at the mercy of striking working
men, and placing it in what is regarded as
safer investments; and as real estate is nee
essarily gaining more rapidly in value in
the West than in the East, capital seeks
Western Investments and we are all MAX
ing hay
Don't talk Minneapolis dirt to me to-
day" said speculator. Pm going to Ash
land to-morrow-but if you come III next
Saturday I'll tell you what Minneapolis
property | shall buy with my Ashland earn
ingS. Why the other day young fellow
came down here from Ashland and
bought quarter section ~
ing near that town of Wesley
Milrs old pardner for S25 an
acre, and the very next day he sold the ell
tire tract for $75 per acre. You know
Porter? Well, he cleared $50, 600 spot cash
in Ashland dirt in one week. He has more
sense than most of lis though, for ne is
going to put SIS. 600 of it in a home for his
family" The above SnatcheS of converse
ton give very correct notion of the pres
ent feeling. Most Minneapolis spectators
who have invested i'll the lake towns have
gone i'll with the intention of bringing their
earnings home just as quickly as possible.
~
Jones, McMullen & Co. report consider
able activity in Cable Line out lots. several
acres having been sold in that addition
during the past week at SO, 500. One OF
the largest deals of the week. was the sale
of block 6. Kenmore Park, thirty lots. at
$500 each. Another significant sale closed
during the past few days was made by
Wolverton & Lewis,sS29 acres beyond Frid-
ley, for which $40, 900 cash was received.
Lauderdale & Co. sold 273L acres in
Crystal Lake at an average price of S205 all
acre. j. c. Plummer q Son got S27, 900 for
a ten-acre piece just west of Forest
Heights-these sales, with the great actv-
ity reported in Forest Heights and Single
creek, indicate the splendid condition of
North side property. Still the South side
holds its competition very level. Several
large sales of outlying property are re-
ported. j. A. DunsmoOr paid nearly $780,
600 for ten acres between Forty seventh
ami Forty eighth streets. Coming nearer
to the business center, j. E.. Brown sold
twenty-five lots on the hill top back of Oak
Grove street for $50, 900.
80
That the Minneapolis real estate activity
is not the speculative boom which the board
of trade has named it. is seen in the num-
Der Oh DullulngS W Ue tIecIeu tliS year.
The owner Of the Hotel ArdmOre has bought
the lots adjoining that structure and will
build an addition to the hotel fronting forty
feet OH Nieollet and extending back 120
feet to the alley. Two stories will be added,
making building SSx120 feet, seven stories
high. with $40 rooms, the largest family
no ell n the Northwest. E.. l.. Danforth
will continue to manage the new Ardmore
~
The Y. M. C. A. expect to be able to
announce the beginning of operations OH
the Association building next Thursday.
Thomas jeffrey has begun excavating for a
four story building on Sixth street. across
the alley from the Grand opera house. 1t
will have frontage of tifty-five feet.